Assessment of N-k contingencies in a probabilistic security-constrained optimal power flow

This paper presents an assessment of the security-constrained optimal power flow (SCOPF) solutions, under probabilistic generation and transmission contingencies. The proposed SCOPF approach schedules the optimal level of system security by balancing the security cost (i.e. out-of-merit dispatch cost) against the cost of corrective actions and expected cost of energy interruptions due to contingencies. This approach can accommodate any set of N-k generation and transmission contingencies, and the probabilities of the contingencies are sensitive to common mode failures and adverse weather conditions. The results show that common mode failures and adverse weather conditions have a significant impact on the probabilities of the contingencies, and thus on the scheduled levels of security.